McGrath RentCorp (NASDAQ:MGRC) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of McGrath RentCorp (NASDAQ:MGRC) from a sell rating to a hold rating in a research note published on Saturday, April 13th, BidAskClub reports.

Separately, Zacks Investment Research lowered McGrath RentCorp from a strong-buy rating to a hold rating in a research note on Wednesday, January 2nd.

Shares of McGrath RentCorp stock traded up $2.32 on Friday, reaching $64.60. 78,660 shares of the company were exchanged, compared to its average volume of 85,758. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 1.90 and a beta of 0.73. McGrath RentCorp has a 1-year low of $45.85 and a 1-year high of $68.79.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.13. McGrath RentCorp had a return on equity of 14.86% and a net margin of 16.18%. The business had revenue of $122.00 million during the quarter, compared to analyst estimates of $113.87 million. During the same period in the prior year, the company posted $0.59 EPS. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, research analysts forecast that McGrath RentCorp will post 3.4 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were paid a dividend of $0.375 per share. The ex-dividend date was Friday, April 12th. This is a positive change from McGrath RentCorp’s previous quarterly dividend of $0.34. This represents a $1.50 annualized dividend and a dividend yield of 2.32%. McGrath RentCorp’s dividend payout ratio (DPR) is currently 47.92%.

In other news, VP John P. Skenesky sold 1,719 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $59.01, for a total value of $101,438.19. Following the completion of the sale, the vice president now owns 2,992 shares in the company, valued at $176,557.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Trease Kristina Van sold 4,294 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $57.94, for a total value of $248,794.36. Following the completion of the sale, the vice president now owns 14,131 shares of the company’s stock, valued at approximately $818,750.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,320 shares of company stock valued at $665,357. Corporate insiders own 2.00% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Cutler Group LP purchased a new stake in shares of McGrath RentCorp during the fourth quarter worth $25,000. FMR LLC raised its holdings in McGrath RentCorp by 186.6% during the fourth quarter. FMR LLC now owns 917 shares of the financial services provider’s stock valued at $47,000 after buying an additional 597 shares in the last quarter. Quantamental Technologies LLC bought a new position in McGrath RentCorp during the first quarter valued at about $62,000. Amundi Pioneer Asset Management Inc. bought a new position in McGrath RentCorp during the fourth quarter valued at about $124,000. Finally, Advisor Group Inc. raised its holdings in McGrath RentCorp by 16.5% during the fourth quarter. Advisor Group Inc. now owns 2,600 shares of the financial services provider’s stock valued at $135,000 after buying an additional 369 shares in the last quarter. Institutional investors and hedge funds own 85.45% of the company’s stock.

McGrath RentCorp Company Profile

McGrath RentCorp operates as a business to business rental company in the United States and internationally. It rents and sells relocatable modular buildings, portable storage containers, electronic test equipment, and liquid and solid containment tanks and boxes. The company operates in four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.

Further Reading: What is a stock split?

Receive News & Ratings for McGrath RentCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McGrath RentCorp and related companies with MarketBeat.com's FREE daily email newsletter.